Amino acids dominate the global industry and are expected
to generate revenues of $11.5 billion
by 2026, says Frost & Sullivan
SANTA CLARA, Calif.,
April 8, 2021 /PRNewswire/
-- Frost & Sullivan's recent analysis finds that the
rising demand for high-quality meat products across the
globe, especially in developing countries, will facilitate the
growth of the global animal feed ingredient market.
Driven by a combination of rising population, growing economies,
and increasing per capita income, the industry is projected to
reach a revenue of $24.7 billion in
2026 at a compound annual growth rate of 5.5% from $18.0 billion in 2020. The poultry and swine
sectors are expected to witness the highest usage of feed
ingredients, whereas expansion in the ruminants sector is
forecasted to demonstrate an upward trend due to changing cattle
farming practices.
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"Amino acids dominate the global industry and are expected to
remain in the top position, generating revenues of $11.5 billion by 2026. The ever-growing demand
for high-quality meat has forced livestock farmers to also fortify
animal feed with vitamins, organic acids,
enzymes, and probiotics. The effort to ensure
high-quality protein concentration intensifies each year," said
Nimisha Dhomne, Chemicals, Materials and Nutrition Research
Analyst at Frost & Sullivan. "As farmers gradually reduce
and discontinue the use of antibiotic growth promoters, the rising
demand for its alternatives creates new revenue streams for
manufacturers in this space."
Dhomne added: "North
America holds the highest position in meat consumption per
capita, but Asia-Pacific is
expected to dominate the animal feed ingredient market, mainly due
to the region's high population, increasing per-capita disposable
income, growing per-capita meat consumption, and constant change in
regulatory frameworks against the use of antibiotic growth
promoters. Europe, on the other
hand, is projected to witness a decline in meat consumption per
capita due to changing dietary patterns, social concerns for animal
welfare, and shifting interest toward processed and lab-grown
meat."
To leverage the growth opportunities presented by the changing
landscape, feed ingredient manufacturers should:
- Focus on developing novel solutions by investing in
research and development (R&D) to create more potent bacterial
strains and novel delivery mechanisms to enhance their efficacy in
animals as probiotics hold considerable potential as an alternative
for antibiotics.
- Expand production capacities to meet potential demand by
establishing strategic partnerships with researchers,
suppliers, and logistic companies.
- Establish a strong foundation in domestic production
with high product line diversity to remain resilient against
adversities in geographic disruptions, biosecurity threats,
and more.
- Invest in innovative technologies to produce feed
ingredients at a lower cost and with less reliance on imports.
Global Animal Feed Ingredient Market Powered by Antibiotic
Alternatives and Vertical Integration is the latest addition to
Frost & Sullivan's Chemicals, Materials and Nutrition
research and analyses available through the Frost & Sullivan
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flow of growth opportunities to succeed in an unpredictable
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About Frost & Sullivan
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Global Animal Feed Ingredient Market Powered
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K5A3
Contact:
Zuzana Zukarnain
Global Corporate Communications
E: zuzana.zukarnain@frost.com
http://ww2.frost.com
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SOURCE Frost & Sullivan